Which of the Following Events Would Have the Best Chance

question 30

Multiple Choice

Which of the following events would have the best chance of excusing performance of a contract based on commercial impracticability?

• A)The price of a raw material increases slightly so that the contract will not be as profitable.
• B)An unforeseeable trade embargo causes prices to triple.
• C)The promisor of personal services dies.
• D)The subject matter of the contract is destroyed.

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Definitions:

Sample Sizes

The number of individuals or observations included in a sample, crucial for determining the study's statistical power.

Expected Value

The expected value is a measure of the central tendency of a random variable, representing the average outcome one would anticipate over an infinite number of trials.

Sample Proportions

The fraction or percentage of samples in a category or exhibiting a characteristic, used to estimate population proportions.

Population Proportions

Refers to the share or percentage of a specific subgroup within the overall population.